Tris-Biphenyl Triazine is extensively used as a UV filter in manufacturing cosmetics. Of the ingredients used for manufacturing cosmetics, tris-bisphenyl triazine utilization rate ranges from 3-5% in bundle of cosmetics. Demand for Tris-Bisphenyl Triazine has nearly doubled in the past half-decade owing to its rapid integration in cosmetics manufacturing.
Key consumers of Tris-Bisphenyl Triazine in the market are Glow lab, Re’equil, Normon, L’Oréal, Unilever, Procter & Gamble and other. Moreover, acceptance of Tris-Bisphenyl Triazine by regulatory bodies such as FDA and ECHA under cosmetic regulation is set to bolster the stance of the market in long-run forecast period. Since past half decade, cosmetics market has grown with 5% CAGR has assessed the Tris-Bisphenyl Triazine market. Shrink in demand for its substitutes also pumped the demand requisite for Tris-Biphenyl Triazine.
Rapid adoption coupled with growing demand for Tris-Biphenyl Triazine has made the market attractive over the long-run forecast period. Probability of new entrants in the market over short-term forecast period is high owing to the extensive penetration of the product in cosmetics. Barriers for new entrants remain high owing to the high sunk cost and lower returns in the initial years. But over mid-term forecast period, manufacturers of Tris-Bisphenyl Triazine could expect high marginal revenue providing a pivotal growth for the manufacturers to expand and forward integrate over long-term forecast period.
Furthermore, Tris-Bisphenyl Triazine is also used to manufacture cosmeceuticals. Cosmeceuticals market has grown at a promising rate in the past half-decade bolstering the Tris-Bisphenyl Triazine market stance. All-in-all owing to the aforementioned factors Tris-Bisphenyl Triazine market is set to grow at higher single digit in the medium run forecast period and at a moderate pace over long-run forecast period.
Demand Surge from Cosmetic Grade Tris-Biphenyl Triazine is set to Provide Long-Run Thrust to the Market
Bulk sales of Tris-Biphenyl Triazine could be traced under the blanket of cosmetics business segment. Cosmetics capture lion’s share of Tris-Biphenyl Triazine demand mix owing to its extensive utilization in manufacturing cosmetic ingredients and sunscreen filters which are further processed to manufacture cosmetics.
Tris-Biphenyl Triazine is inherently non-hazardous compound compared to the other sunscreen filters channeled in the market such as avobenzone, octocrylene, Diethylamino Hydroxybenzoyl Hexyl Benzoate and the bundle of other suncreens. Other benefits for utilization of Tris-Biphenyl Triazine include high UV-absorption capacity which attracts the cosmetic manufacturers in the market.
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COVID-19 to Negatively Effect the Tris-Biphenyl Triazine Market
COVID-19 or Novel corona virus has major impact on cosmetics market. Need for grooming and cosmetics has declined in the past two quarters owing to the lock down which has provided a domino effect to the Tris-Biphenyl Triazine market. Reopening of the markets across all the regions has revived the market to its normal state in 3rd quarter of FY2020. Price of the Tris-Biphenyl Triazine has reached to its normal from its near low in the 2nd quarter of FY2020. Speculative demand of Tris-Biphenyl Triazine is high due to the rapid fluctuations in the price of the product which is set to provide marginal benefits to the suppliers and distributors over short-term forecast period.
Tris-Biphenyl Triazine Market: Regional Outlook
From regional perspective, Europe holds majority of the market share owing to the presence of bundle of cosmetic manufacturers in the region. Higher penetration of Tris-Biphenyl Triazine in cosmetics in the region has strengthened the market in medium term forecast period. Followed by Europe, North America captures near one-fifth of the Tris-Biphenyl Triazine market owing the positioning of major cosmetic manufacturers in the region consuming Tris-Biphenyl Triazine. South Asia & Oceania and East Asia together are set to grow at a higher CAGR in the long-run forecast period.
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Tris-Biphenyl Triazine Market: Key Players
Global Tris-Biphenyl Triazine market is highly monopolistic in nature with manufacturer positioned in North America and Europe. The only player in the market is BASF which is associated with the two tariff plans with the key cosmetic manufacturers in the market. Despite higher demand of product, market has lower entry probability owing to the product patent held by the BASF.
The research report presents a comprehensive assessment of the Tris-Biphenyl Triazine market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The Tris-Biphenyl Triazine Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
An Adaptive Approach to Modern-day Research Needs
The Tris-Biphenyl Triazine Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Russia, Poland & CIS)
- East Asia (China, Japan, South Korea)
- South Asia (India, Malaysia, Indonesia, Australia, New Zealand & Thailand)
- Middle East & Africa (GCC Countries, South Africa, Turkey)
The Tris-Biphenyl Triazine report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The Tris-Biphenyl Triazine report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The Tris-Biphenyl Triazine report also maps the qualitative impact of various market factors on market segments and geographies.
The Tris-Biphenyl Triazine Market Report Highlights:
- A Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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Segmentation analysis of Tris-Biphenyl Triazine Market:
The global Tris-Biphenyl Triazine market is bifurcated into three major segments: grade, application, end-use industry and region.
On the basis of Grade, Tris-Biphenyl Triazine market has been segmented as follows:
- Technical Grade
- Pharmaceutical Grade
- Cosmetic Grade
On the basis of Application, Tris-Biphenyl Triazine market has been segmented as follows:
On the basis of End-use industry, Tris-Biphenyl Triazine market has been segmented as follows:
- Personal Care Industry
- Cosmetic Industry
- Pharmaceutical Industry
On the basis of geographic regions, Tris-Biphenyl Triazine market is segmented as
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
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